HVAC CABLES MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

The global HVAC cables market is witnessing significant growth due to the rising infrastructural development activities across the world. Rapid urbanization and industrialization have increased the construction of commercial spaces like malls, offices, and hotels which require stringent monitoring and control of temperature and humidity levels. HVAC cables are an integral part of heating, ventilation, and air conditioning (HVAC) systems as they are used to carry control signals and power between HVAC equipment and thermostats or controllers. Various properties of HVAC cables like flame retardant low smoke zero halogen jacketing, oil resistance, flexibility, and moisture resistance make them suitable for use in extreme environments within HVAC units. Moreover, government initiatives toward green buildings and sustainable construction have also propelled the demand for energy-efficient HVAC systems, thereby fueling the need for special cables used in them.

Market Dynamics:

The global HVAC cables market growth is driven by factors such as rapid industrialization and urbanization leading to increased construction activities, stringent government regulations regarding energy-efficient buildings, and rising adoption of smart home automation systems. However, high initial installation costs of HVAC systems and cables pose a major challenge to market growth. On the other hand, development of bio-based and recyclable materials for cable jacketing and surge in retrofitting activities of old buildings with energy-efficient HVAC systems are expected to create opportunities for market players in the coming years.

Key features of the study:

• This report provides in-depth analysis of the global HVAC cables market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year.
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
• It profiles key players in the global HVAC cables market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies.
• Key companies covered as a part of this study include ABB Ltd, Baosheng High Voltage Cable Co. Ltd, Furukawa Electric Co. Ltd, KEC International Ltd, LS Cable & System Ltd., Lutze Inc., Nexans S.A., NKT A/S, Prysmian Group, Prysmian S.P.A, Quanta Services, Inc., SAB North America, Sumitomo Electric Industries, Ltd, TFKable, and ZTT International Ltd.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
• The global HVAC cables market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global HVAC cables market.

Detailed Segmentation:

• By Voltage
  • 110 kV – 220 kV
  • Above 220 kV
•  By Category
  • Overhead
  • Submarine
  • Underground
• By Regional
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
• Key Players Insights
  • ABB Ltd
  • Baosheng High Voltage Cable Co. Ltd
  • Furukawa Electric Co. Ltd
  • KEC International Ltd
  • LS Cable & System Ltd.
  • Lutze Inc.
  • Nexans S.A.
  • NKT A/S
  • Prysmian Group
  • Prysmian S.P.A
  • Quanta Services, Inc.
  • SAB North America
  • Sumitomo Electric Industries, Ltd
  • TFKable
  • ZTT International Ltd